Consultation Paper 193: Takeovers, Compulsory Acquisitions and Substantial Holdings: Update to ASIC Guidance
Submission Date: 22 February 2013
This is a submission by the Corporations Committee of the Business Law Section of the Law Council of Australia (the Committee) in response to ASIC’s Consultation Paper 193: “Takeovers, compulsory acquisitions and substantial holdings: Update to ASIC guidance” (November 2012) (CP 193).
The Committee strongly supports ASIC’s proposal to update and reorganise a large part of its guidance on Chs 6-6C into four new consolidated regulatory guides in the manner proposed in CP 193. The Committee believes this will help to make ASIC’s policy more accessible to users and it will also bring ASIC’s published guidance up to date so it reflects current laws and policies. These are both very worthwhile objectives.
In general, the Committee also supports ASIC’s proposed approach of essentially consolidating existing guidance and only proposing additional or amended guidance in limited circumstances. However, the Committee does wish to comment on a number of specific issues in relation to the proposed new regulatory guides. These comments are set out in the Annexure in response to the list of questions asked in CP 193.
Last Updated on 30/04/2025
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